Greek Shipowner Ioannis Angelicoussis Dies at 73

Greek shipowner Ioannis Angelicoussis died on Saturday morning at a central Athens hospital, where he was being treated since March 20 after a heart attack.

Angelicoussis was 73 years old.

Daughter Maria Angelicoussis, who will now succeed her father as the chief executive of the entire Angelicoussis Group of Companies, confirmed the sad news “with great sadness and regret” in a statement that she issued late on Saturday afternoon.

Mr Angelicoussis “died peacefully in his sleep, surrounded by close family. He will be deeply missed,” his daughter’s statement reads. ”The family wishes to thank all those at the hospital who provided support and care throughout.”

Who Was Ioannis Angelicoussis

John Anthony Angelicoussis, as he was more widely known, was born in November 1948.

He was the son of Anthony J. Angelicoussis and Maria Papalios.

He bought his first ship in 1953. In 1968, along with his partner Dimitris Efthymiou, he established the Agelef Shipping Company, and then joined his father’s company in 1973.

In 1987, his company was floated on the Luxembourg stock market. Two years later, the company listed on US Nasdaq, where it remained until it was delisted in 2001.

Ioannis Angelicoussis managed the Angelicoussis Shipping Group, which owned Anangel Maritime Services, Maran Tankers Management, and Maran Gas Maritime. In 2002, he reached an agreement with his sister to break the 50/50 control deal and take over the group entirely.

According to Bloomberg, in 2015 Angelicoussis had a net worth of $2.4 billion, and a fleet of 96 ships. In 2019, he was still the largest shipowner in Greece in terms of tonnage.

The Greek magnate was married to Elizabeth Angelicoussis. Their only daughter, Dr. Maria Angelicoussis (Mrs Lawrence Frankopan), has trained as a doctor and works for the Angelicoussis Group since 2009. She is involved in all major investment decision taking and in the daily operations of all three management companies of the family. She studied in Cambridge in the United Kingdom, where she worked as a doctor before moving to work for her family’s company.

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